Shares of Adani Ports and Special Economic Zone (APSEZ) achieved a new record high of Rs 1,887 on Thursday, pushing the company's market capitalization to Rs 4.33 lakh crore. Following this surge, the stock closed at Rs 1,883.20, marking a 1.89% increase on the BSE.
MOSL Maintains Bullish Outlook on Adani Ports
Brokerage firm Motilal Oswal Financial Services (MOSL) has reiterated its 'BUY' rating for APSEZ, projecting a target price of Rs 2,050. This valuation is based on 16x FY28E EV/EBITDA, reflecting strong confidence in the company's future performance.
Robust Cargo Volume Growth Drives Performance
MOSL highlights that APSEZ continues to significantly outperform the broader ports industry, demonstrating robust cargo volume growth even amidst a relatively subdued sector environment. The company's operational updates for Q1FY27 reveal impressive figures:
- In June 2026 alone, APSEZ handled 46.8 million tonnes (MMT) of cargo.
- For the entire Q1FY27 (quarter ended June 30, 2026), cargo volumes reached 138.1 MMT, a substantial 15% year-on-year increase. This growth was primarily fueled by an 18% rise in container traffic and a 12% increase in liquid cargo.
- In May 2026, APSEZ handled 48.3 MMT of cargo, an impressive 16% year-on-year jump, led by a 33% increase in liquid cargo and 17% in container traffic.
- Cumulative cargo volumes for the first two months of FY27 climbed 15% year-on-year to 91.4 MMT, with container volumes maintaining strong momentum.
Despite these strong numbers, logistics rail volumes experienced a decline, with June 2026 volumes at 48,650 TEUs (-22% YoY) and Q1FY27 volumes at 1,45,310 TEUs (-19% YoY).
Strategic Expansion and Limited Downside Risks
APSEZ's growth trajectory is further supported by improving earnings visibility and minimal downside risks from geopolitical uncertainties. The company's ongoing investments in expanding port capacity, enhancing marine services, and developing integrated logistics solutions are expected to ensure sustainable growth in the coming years.
These initiatives align with APSEZ's long-term objective of becoming India's largest integrated transport utility by 2031, with logistics and marine services emerging as crucial growth pillars alongside its core ports business.
Technically, the Adani Ports stock is trading above its 10-day, 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day moving averages. Its Relative Strength Index (RSI) stands at 63.8, indicating it is neither in the oversold nor overbought zone. However, the stock has shown high volatility over the past year, with a beta of 1.51.